South Dakota Investment Council lowered its holdings in shares of Textron (NYSE:TXT) by 4.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,800 shares of the aerospace company’s stock after selling 1,400 shares during the quarter. South Dakota Investment Council’s holdings in Textron were worth $1,698,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the stock. Aperio Group LLC grew its position in shares of Textron by 0.8% during the fourth quarter. Aperio Group LLC now owns 112,996 shares of the aerospace company’s stock worth $6,394,000 after purchasing an additional 911 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its holdings in Textron by 6.9% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 14,378 shares of the aerospace company’s stock valued at $813,000 after buying an additional 924 shares in the last quarter. Keybank National Association OH grew its holdings in Textron by 3.8% during the 4th quarter. Keybank National Association OH now owns 29,168 shares of the aerospace company’s stock valued at $1,651,000 after buying an additional 1,065 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Textron by 4.3% during the 4th quarter. CIBC Asset Management Inc now owns 26,438 shares of the aerospace company’s stock valued at $1,496,000 after buying an additional 1,084 shares in the last quarter. Finally, Penserra Capital Management LLC grew its holdings in Textron by 18.6% during the 4th quarter. Penserra Capital Management LLC now owns 7,000 shares of the aerospace company’s stock valued at $396,000 after buying an additional 1,100 shares in the last quarter. Hedge funds and other institutional investors own 83.55% of the company’s stock.
In other news, CEO Scott C. Donnelly sold 158,237 shares of Textron stock in a transaction that occurred on Friday, April 27th. The stock was sold at an average price of $63.05, for a total value of $9,976,842.85. Following the completion of the transaction, the chief executive officer now owns 715,106 shares in the company, valued at approximately $45,087,433.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Scott C. Donnelly sold 11,988 shares of the firm’s stock in a transaction that occurred on Tuesday, May 1st. The stock was sold at an average price of $61.60, for a total value of $738,460.80. Following the sale, the chief executive officer now directly owns 715,106 shares of the company’s stock, valued at $44,050,529.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 250,225 shares of company stock valued at $15,754,504. Company insiders own 1.20% of the company’s stock.
Shares of Textron stock opened at $66.56 on Friday. The company has a market capitalization of $17.13 billion, a PE ratio of 24.69, a P/E/G ratio of 1.87 and a beta of 1.39. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.31 and a quick ratio of 1.09. Textron has a one year low of $45.00 and a one year high of $67.43.
Textron (NYSE:TXT) last announced its earnings results on Wednesday, April 18th. The aerospace company reported $0.72 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.26. The firm had revenue of $3.30 billion during the quarter, compared to analysts’ expectations of $3.06 billion. Textron had a return on equity of 12.65% and a net margin of 2.74%. The company’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.46 EPS. research analysts forecast that Textron will post 3.13 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, July 1st. Stockholders of record on Friday, June 15th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date is Thursday, June 14th. Textron’s dividend payout ratio (DPR) is 3.27%.
Several research firms have weighed in on TXT. ValuEngine upgraded Textron from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 19th. Robert W. Baird raised their price target on Textron from $68.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, April 19th. Barclays raised their price target on Textron from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, April 19th. Wells Fargo & Co restated an “outperform” rating and set a $72.00 price target (up previously from $67.00) on shares of Textron in a report on Thursday, April 19th. Finally, Bank of America upgraded Textron from an “underperform” rating to a “buy” rating and raised their price target for the company from $57.00 to $75.00 in a report on Thursday, April 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Textron presently has an average rating of “Buy” and a consensus price target of $67.17.
Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures and sells business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as provides maintenance, inspection, and repair services.
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